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The NFL’s franchise tag deadline is set for Tuesday at 4 p.m. ET, and teams are making crucial decisions about retaining top talent. The tag allows teams to secure one impending free agent for another year, impacting the overall free agency market.
Players Receiving the Franchise Tag
So far, the Kansas City Chiefs have placed a non-exclusive franchise tag on Pro Bowl guard Trey Smith. Meanwhile, the Cincinnati Bengals plan to tag wide receiver Tee Higgins for the second consecutive year, hoping to negotiate a long-term deal. The Dallas Cowboys are also considering tagging defensive tackle Osa Odighizuwa if an agreement isn’t reached before the deadline.
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Understanding the NFL Franchise Tag
NFL teams use the franchise tag to keep a key free agent on a short-term contract. There are three types: exclusive, non-exclusive, and transition tags.
- Exclusive Franchise Tag: The player’s salary is set at either the average of the top five salaries at their position or 120% of their previous salary—whichever is higher. They cannot negotiate with other teams.
- Non-Exclusive Franchise Tag: The contract follows the same salary formula, but players can negotiate with other teams. If an offer is made, the current team can match it. If they decline, they receive two first-round draft picks as compensation.
- Transition Tag: The salary is based on the top 10 salaries at the position. The player can negotiate with other teams, but there is no draft pick compensation if he signs elsewhere.
Franchise Tag Salary Values for 2024
- Quarterback: $40.24 million
- Running Back: $13.64 million
- Wide Receiver: $23.96 million
- Tight End: $13.83 million
- Offensive Line: $23.4 million
- Defensive End: $22.06 million
- Defensive Tackle: $25.12 million
- Linebacker: $25.45 million
- Cornerback: $20.19 million
- Safety: $18.6 million
- Punter/Kicker: $6.31 million
With key players being tagged, the next few days will shape the NFL’s free agency landscape as teams finalize their rosters for the upcoming season.
